{"id":6578,"date":"2013-01-24T21:22:34","date_gmt":"2013-01-25T02:22:34","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6578"},"modified":"2013-01-24T21:22:34","modified_gmt":"2013-01-25T02:22:34","slug":"sterling-double-top-warns-of-fall","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/","title":{"rendered":"Sterling: double top warns of fall"},"content":{"rendered":"<p>Gavyn Davies writes on BOE governor Mervyn King\u2019s UK economic policy speech on Tuesday in <a title=\"FT Blogs: Gavyn Davies\" href=\"http:\/\/blogs.ft.com\/gavyndavies\/2013\/01\/24\/mervyn-kings-valedictory-plan\/\" target=\"_blank\">FT Blogs<\/a>:<\/p>\n<blockquote style=\"background-color:#ddddff;\"><p>The governor gives an extremely broad hint that he would like sterling to be much lower against other currencies. In his view, the drop of 25 per cent in sterling, which happened between late 2007 and the beginning of 2009, was \u201ccertainly necessary\u201d for a full rebalancing of the UK economy.<\/p><\/blockquote>\n<p>If we take a look at the long-term view, sterling is ranging in a narrow band against the greenback after a sharp fall in 2008. 63-day Twiggs Momentum oscillating close to the zero line (within 5%) is typical of a ranging market.<br \/>\n<img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"Pound Sterling\/USD\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-01-24-gbp4.png?w=525&#038;ssl=1\" \/><br \/>\nCompletion of a double top on the weekly chart signals a down-swing to primary support at $1.53*. 63-day Twiggs Momentum below zero strengthens the signal.<br \/>\n<img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"Pound Sterling\/USD\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-01-24-gbp-wk.png?w=525&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target calculation: 1.58 &#8211; ( 1.63 &#8211; 1.58 ) = 1.53<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gavyn Davies writes on BOE governor Mervyn King\u2019s UK economic policy speech on Tuesday in FT Blogs: The governor gives an extremely broad hint that he would like sterling to be much lower against other currencies. In his view, the drop of 25 per cent in sterling, which happened between late 2007 and the beginning &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sterling: double top warns of fall&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7,33],"tags":[458,2285,2727],"class_list":["post-6578","post","type-post","status-publish","format-standard","hentry","category-forex","category-uk-europe-countries-regions","tag-boe","tag-mervyn-king","tag-pound-sterling"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sterling: double top warns of fall - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sterling: double top warns of fall - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Gavyn Davies writes on BOE governor Mervyn King\u2019s UK economic policy speech on Tuesday in FT Blogs: The governor gives an extremely broad hint that he would like sterling to be much lower against other currencies. In his view, the drop of 25 per cent in sterling, which happened between late 2007 and the beginning &hellip; Continue reading &quot;Sterling: double top warns of fall&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2013-01-25T02:22:34+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2013\/2013-01-24-gbp4.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Sterling: double top warns of fall\",\"datePublished\":\"2013-01-25T02:22:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/\"},\"wordCount\":140,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2013\/2013-01-24-gbp4.png\",\"keywords\":[\"BOE\",\"Mervyn King\",\"Pound Sterling\"],\"articleSection\":[\"Forex\",\"UK &amp; Europe\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/\",\"name\":\"Sterling: double top warns of fall - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2013\/2013-01-24-gbp4.png\",\"datePublished\":\"2013-01-25T02:22:34+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2013\/2013-01-24-gbp4.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2013\/2013-01-24-gbp4.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/24\/sterling-double-top-warns-of-fall\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sterling: double top warns of fall\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.\",\"sameAs\":[\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\",\"https:\/\/au.linkedin.com\/in\/colintwiggs\"],\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sterling: double top warns of fall - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Sterling: double top warns of fall - the patient investor","og_description":"Gavyn Davies writes on BOE governor Mervyn King\u2019s UK economic policy speech on Tuesday in FT Blogs: The governor gives an extremely broad hint that he would like sterling to be much lower against other currencies. 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Oscillation of 63-day Twiggs Momentum in a similar range to the last year would indicate a ranging market in the longer term -- between $1.53 and $1.63. * Target calculation: 1.58 - ( 1.63\u2026","rel":"","context":"In &quot;Forex&quot;","block_context":{"text":"Forex","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6818,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/27\/forex-euro-and-sterling-retreat-while-aussie-dollar-rebounds\/","url_meta":{"origin":6578,"position":1},"title":"Forex: Euro and Sterling retreat while Aussie Dollar rebounds","author":"Colin Twiggs","date":"February 27, 2013","format":false,"excerpt":"The euro broke medium-term support at $1.32 and the rising trendline against the greenback. While this indicates trend weakness it does not necessarily mean reversal to a primary down-trend. Completion of a 63-day Twiggs Momentum trough above zero would suggest that the trend is intact -- and an advance to\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4270,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/03\/forex-euro-pound-sterling\/","url_meta":{"origin":6578,"position":2},"title":"Forex: Pound Sterling strengthens against Euro","author":"Colin Twiggs","date":"May 3, 2012","format":false,"excerpt":"The euro is headed for another test of support at $1.30. Failure would complete a small bearish descending triangle on the weekly chart. Breach of primary support at $1,26 would offer a long-term target of $1.17*. Respect of the zero line (from below) by 63-day Twiggs Momentum would strengthen the\u2026","rel":"","context":"In &quot;Forex&quot;","block_context":{"text":"Forex","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4723,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/28\/forex-euro-pound-sterling-australian-dollar-and-canadian-loonie\/","url_meta":{"origin":6578,"position":3},"title":"Forex: Euro, Pound Sterling, Australian Dollar and Canadian Loonie","author":"Colin Twiggs","date":"June 28, 2012","format":false,"excerpt":"The Euro retreated below support at $1.26, indicating a test of the 2010 low at $1.19\/1.20. Breach of the rising trendline on 63-day Twiggs Momentum would strengthen the bear signal. Pound Sterling is testing resistance at $1.58 against the greenback. Respect would indicate\u00a0 another test of primary support at $1.52.\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4314,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/09\/forex-euro-and-pound-sterling-2\/","url_meta":{"origin":6578,"position":4},"title":"Forex: Euro and Pound Sterling","author":"Colin Twiggs","date":"May 9, 2012","format":false,"excerpt":"The euro broke support at $1.30, completing a bearish descending triangle on the weekly chart and signaling another test of primary support at $1.26. In the longer term, breach of $1.26 would offer a target of $1.17*. Respect of the zero line (from below) by 63-day Twiggs Momentum strengthens the\u2026","rel":"","context":"In &quot;Forex&quot;","block_context":{"text":"Forex","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6555,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/17\/sterling-breaks-euro-support\/","url_meta":{"origin":6578,"position":5},"title":"Sterling breaks euro support","author":"Colin Twiggs","date":"January 17, 2013","format":false,"excerpt":"Pound Sterling broke support at\u00a0\u20ac1.23 on the weekly chart against the euro. Decline of 63-day Twiggs Momentum below zero warns of a primary down-trend. Breach of the rising trendline strengthens the signal.","rel":"","context":"In &quot;Forex&quot;","block_context":{"text":"Forex","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6578"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6578\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}